Exhibit 10.36
Executive Officer Compensation - Revised and Restated
1. Upon the request of Xxxxxxx X. Xxxxxxxx, CEO, President and Chairman,
the Employment Agreement of Xx. Xxxxxxxx was modified, by agreement
dated February 2, 2006, to reduce his annual incentive bonus from 6% to
5% of Temecula Valley Bancorp Inc. (the "Company") net income before
income taxes and bonuses, payable by the Bank.
2. Xx. Xxxxxxxx'x annual base salary was increased from $350,000 to
$400,000.
3. The annual base salary of Xxxxx Xxxxxxx, Executive Vice President/Real
Estate Industries Group, was increased from $180,000 to $210,000. For
calendar year 2006, Xx. Xxxxxxx' annual incentive bonus will be based
upon the following: 2.5% (previously reported at 2%) of the pre-tax
post bonus net income of the Bank's Real Estate Industries Group. This
amount will be outside the executive officer bonus pool.
4. The annual base salary of Xxxxxx Xxxxxxxx, Senior Executive Vice
President and Chief Credit Officer, was increased from $180,000 to
$210,000.
